COMMODITY MARKET UPDATE NEWS

Soyabean trading range for the day is 2994-3054.Soyabean prices gained on short covering tracked by higher prices in international markets.The production will be higher this year and the oil millers are purchasing soybean at lower prices.NCDEX accredited warehouses soyabean stocks gained by 2291 tonnes to 206072 tonnes.At the Indore spot market in top producer MP, soybean dropped -1 Rupees to 3033 Rupees per 100 kgs.

Silver trading range for the day is 42139-42945.Silver gained benefited from a retreat in the dollar, despite strong U.S. economic data which confirmed that the growth story in the U.S. economy remains on track.U.S. retail sales rose more than expected in January and consumer prices recorded their biggest gain in nearly four years U.S. Federal Reserve Chair Janet Yellen said that delaying increases could leave the Feds policymaking committee behind the curve.